Report: Warren Buffett to raise money for Bob Kerrey

Bob Kerrey's Senate campaign reportedly will get a boost soon from Warren Buffett.

Politicoreports billionaire Buffett, sometimes called the "oracle of Omaha," will host a fundraiser later this month for the Nebraska Democrat, who is seeking a political comeback.

And unlike other wealthy people interested in politics, such as casino developer Sheldon Adelson, the CEO of Berkshire Hathaway apparently won't be writing million-dollar checks to super PACs, the independent groups that have been a major force in 2012 campaigns.

"I am 100% behind Kerrey," Buffett told Politico. "I will not be doing super PACs of any sort. I think allowing unlimited contributions to campaigns is a terrible idea and an important and unfortunate step toward a plutocracy."

Kerrey, a former governor and senator who's been out of office for 10 years, faces Republican Deb Fischer in the fall. The race could help determine which party controls the U.S. Senate.

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About Catalina Camia

Catalina Camia leads the OnPolitics online community and has been at USA TODAY since 2005. She has been a reporter or editor covering politics and Congress for two decades, including stints at The Dallas Morning News and Congressional Quarterly. Follow her at @USATOnPolitics.